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Home My WebLink About0161 TO HAVE AND TO HOLD the same, -together with the t.~nerneab, 6eredttameab and apparteoaaees, Hato the Motgagee, N tee dmple. AND the Mortgagor does hereby covenant with the Mortgagee that he b iudefeasi~,y seized of said lead in fee simplq, that be has full power and lawful right to convey said land in fee simple as Jaesakl; that it shall Ix Lwful fw the Murti;agee at all times peaceably uxl yuiedy to enter upoa~ hold, occuppyy urd espy said inert!; that said !anti is free from a0 incunrhrances; that he vviU make such further assurarrce~ to protect the fee simple tr'tle to said land iu the Attxtgagee as ma reasonably he re~iuired: that he doer hereby fully tvarnat the title to said land and will defend the name against the lawful claims aI ~ persona whomsoever. PROVIDED. ALWAYS, that if tbs btortgrtgor shall pay mto the Mortgages the ce:taio promissory ssab of which the foOowdas io wads and figures is a tree Dopy. lo-witt COl?iMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACH:FS c~°~~tt~E ~a#~ RMERA BEACH. FLORIDA October 1, 19 80 Being indebh~d, fa value retxived, the undersigned (dully and severally promise to pay to COMMUNITY FEDERAL SAV- INCS AND LOAN ASSOQATION OF THE PALM BEACHES at ib offieti in the City d Riviera Beach, Florida, or order, the sum of FIFTY SEVEN THOUSAND NINE HUNDRED AND NO HUNDREDTHS------- DOLLARS 57,900.00 ) together with interest thereon as hereinafter stated in monthly installmeab of Six Hundred Sixty Three and 20/100-------------------------------------------------- DOLLARS(i 663.20 The first iast:nment shaD be due srd payable on the 10th day di November 19 80 and subsequent iastalLnenb shall be due and payable oa the 10th day of each and every calendar month therea[ter until the principal and interest are fully paid. Larger sums may be paid at time, but the ymeat of any such larger :urns in addition to the payments herein re- quired she not relieve the makers of~ payment of the monthly installmenb herein provided for, unless it is specifically stipu- lated 6y the makers at the time of payment that such larger sums are to be applied to the advance payment of the monthly install- ments next maturing iu the order of their due dates. All payments made upon this note shall 6e applied first to the pa~lnent of accrued interest and secontUy upon the principal. This obligation shall bear interest from dace at the rate of Thirteen and one/half- ~r renl ( 13.50 %rO) ` per annum until sire principal and interest are frilly paid. Interest for each calendar mtmth shall be accnred on the first day of said month and be computed tm the unpaid I~alance of principal and interest existing an the last day of the preceding month, This.note shall be considered in default when any pay- ment required to be made hereunder shall not have been made by its due date and shall remain in default until said payment shall have been made. While in default, this note shall bear interest at the rate of --Eighteen------------- per txat ( 1~ 96) per annum in lieu of the rate hereinbefore specified and holder during default may at ib option refuse w atx:ept paymea of any Burn less than the total amount then due or declared hereunder to be due. All makers and endorsers now a hereafter parties hereto jointly and severally waive demand, notice of aoa- payment and protest, and agree that in the event of defau t in the payment -of installment dire hereunder for a period of thirty (30) days the whole of said indebtedness shall the any ( able, and if this note becomes in default and is placedm~tbe l~iaodtt of an~at~ °f the hn)der, become immediately due and paY- and all other coats including coat and attornt:ys f xixs of Appellate Caret Prooeedm~cf fo sic6~eollectrt-asonable attorney's ft:~es This note may be prepaid in whole a in part at any time v: ithout .penalty. S/David A. Fish i~crrar~ (SEAL) - - - David A. Fish S/Kelly S. Herrington Ke y S. Herrington - - (SEAL) of the PaL uBeachea) ~ a mortgage of tvea date exeeuDed by the makers in favor of Ctxnmunity Federal Savings and Loan Asm. and shall p a ptly perform, comply with, and abide by each and every the stip+rlatiaos, ag~eemenb, ooaditiom, and covenants of said prom- issory note nil of this deed, then the estate hereby created shall cease and be null and void. AND the Mortgagor does hereby coveaaat and agree: 1. To pay all and singular the principal and interest and other sums of nwney payable by virtue of said promissory Dote aril this mort- gage, or either, promptly on the days rtxpectiveiy, the same severally Dome due. 2. To pay aD and singular the ta:tx, assessmenb, levies, liabilities, obligation and tmrwnbrarrces of every nature on said described prop- erty each and every when due and payable according to law, before they become delinquent, and if the same shall not be promptly paid the Mortgagee may at any time either before or after delinquency pay the sauce without waiving or affecting the option to foreclose, or any right hereunder, and every payment so made shall bear interest from the date thereof at the rate provided in said promissory note. 3. To keep the buildings and all eegqwpment and personal prope rty now a hereafter oo said premises, covered by this mortgage, insured in a sum at least equal to the unpaid balar?ce of this mortgage. indndIag fire, flood, exttmded oovenge vandalism. malicious mischief, and any other coverage required by the mortgagee, as to properties other than dweIlin~s and fire, flood, tarten~ed insurance, and any other coverage required by the mortagee, oo dwellings eligr'ble for such broadened oaver~• mid-form other-pethat such insurance be in as amormt sufficient to comply with any eo-inwranoe ge providtxl, however, and provided further that the U a9dre°re°b covering sa"'e under the laws of the State of Fbrida, gagee and that said a or policies she be written in a company a eompwies and thrargb an agency satisfaMory to the I?iort- po~cy policia shall be held by the bfortgagtx and ahali btxr a standard New York Mortgagee Clause without contribu- tion, nakinag the loss carder said policies payable to the Mortgagee as its interest maY appear: acrd in the event any sum of becomes payable under any such policy a policies, the iiftxtgagee shall have the option to receive and apply the same on accamt of theebtedness hereby secured, or to permit the 1?fortgagor to receive and use it, or any part thereof for other pnrlwaes, without thereby waiving or impair- ing any equity. lien, or right under acrd by virtue of this mortgage, and in the event ~tbe Mortgagor does not compply with this covenant, the I?tortgagee may place and pay for such insurance, a any part thereof, without waiving a affecting ebe option to f~reclase, a any fight here- under. and the full amamt of each and every such payment shall be immediately fine and payable, and shaD bear interest from the date thereof until paid at the default rate provided in said note and together with such interest shall 6e secured by the lien of this mortgage. Iasur- anee coverirr~ the peril of Flood damage shall be as requin~d by the Federal Disaster ProiDectiois Act of 1873, a as ameadad, and mortgagor covenants agrees to comply in aD respects with the provisions thereof. - 4. That mortgagee msy, at anl? time during the mortgage term, and io ib discretion, apply fa rerrewd of ga rnvering the wortgnge terccrrted by the undersigrral on even date herewItb. pay the premium due by reason tl ~reoF, a~nd~reryr+epaymeat by the undersigned of such amounts as are advanced by said mrxt¢aece. In the tweet of failure icy the undersi¢rred to repay said amounts to said mortgagee, such failure :half be tmnsidered a default, and aD provision of the note sad mortgage with regard to ddault shaII be appli- cable. 5. To permit, commit a suffer no waste, Impairment a tkterioration of said p~p~y. a soy part thereof, and upon the failure ~ the { mortgagor to keep the buildings ao said property in good cooditioa of repair the Mortga may demand the Immediate repair of said build- ings, or an increase in the amount of security, a the imirediate yymment of sire debt oecrued and fire failure of the Mortgagor to com- ppfy with said demand of the Mortgagee fa a period of thirty (30~'i at ys, oboe t:ortistitute a of this wortgage, and, at the option of the l~lortgagee, immediately mature the entlre amount of principal aanndd iaterost hereby secured, and immediately acrd without notice, the Mortgagee nsay imtituta prooeediogs to foreclae thin mortgage and apply fa the appointment of a Receiver, v beseiaaftsr provWed. , 800! 3~O P:GF ~f j~, _;.a